State Will End Power Buying Jan. 1
The state of California will greet New Year´s Day relieved of a job it didn´t want, and one that critics say it
didn´t do well. The state will stop buying electricity for its three major utilities.
Tuesday, the Department of Water Resources, which bought most of California´s electricity the past two years, loses its emergency legal authority for the job. DWR officials say minute-by-minute power buying will return to Pacific Gas and Electric Company, Southern California Edison and San Diego Gas and Electric Company. The state began buying power after the 2001 blackouts, when energy traders balked at dealing with struggling utilities.